Birla Corp may buy Reliance Infra's cement business in Rs 5,000 crore-deal

Birla Corp is likely to win the race to acquire Reliance Infrastructure's cement business in a deal which may amount to nearly Rs 5,000-5,100 crore, in line with Reliance's expectations, a report by Economic Times has said. 

According to the report, there were offers from other private equity companies in the race, but eventually Birla Corp seems to be leading the race to buy out the Anil Ambani-run cement business. 

Reliance Infra had received offers from Blackstone private equity, JK Lakshmi Cement, JSW Cement, Baring Private Equity Asia, Carlyle, and China Resources Cement Holdings.  

According to the report, an announcement may be made in the next week, even though a final decision is only expected by the end of the fortnight.